The Business Of Mining: Profits, Losses, Hobbies and Businesses
November 2008 by Mark E. BattersbyEveryone can deduct all of the ordinary and necessary expenses of conducting a trade or business. But how can anyone hope to refute the IRS’s labeling of their activity as a hobby or, probably more importantly, hope to achieve the label of a tax business?
True independence is rare among prospectors and miners. There is always someone or some agency that is telling the small-scale miner or prospector how to operate or requiring changes in their operations.
Rapid City, S.D. (AP)—Scientists and a team of South Dakotans have submitted a $281 million, five-year plan to turn Homestake Mine in Lead into the world’s largest underground laboratory.
A recent online survey on our homepage confirmed what we expected...
The old mining camp of Scossa, in Pershing County, Nevada, was located 6 miles from the nearby ghost camp of Rosebud and approximately 20 miles northeast of the once famous mining town of Seven Troughs. Fifty- two-year-old Charlie Scossa was already a seasoned prospector from California when he went in search of another rich strike in the high deserts of northwestern Nevada in 1930.
This past month was one that saw the emergence of a series of problems capable of inflicting true and serious damage to the world’s well being on a scale we have not witnessed since the late 1970s.
The Bawl Mill • Where To Find Diamonds • Miners Find Encouraging Prospects Near Livengood • Glen's Big Find • Suction Dredge Study • Lluvia de Oro— A Shower of Gold Awaiting Development in the Sierra Madre—Part I • Beyond The End of The Road • Barnes Store and Yankee Jims • Mining Tax Increase Suggested • Opening Ceremony for Buckhorn Mine • Mining Journal Contest—How Much Is That Old Mining Journal Worth? • Melman on Gold & Silver • Mining Stock Quotes and Mineral & Metal Prices